Cybersecurity monitoring and threat prevention startup Uptycs raises $50M

Cloud security analytics platform Uptycs today announced it has raised $50 million in a series C funding round led by Norwest Venture Partners, bringing the Waltham, Massachusetts-based company’s total raised to $93 million.

In a 2017 Deloitte survey, only 42% of respondents considered their institutions to be extremely or very effective at managing cybersecurity risk. The pandemic has certainly done nothing to alleviate these concerns. Despite increased IT security investments companies made in 2020 to deal with distributed IT and work-from-home challenges, nearly 80% of senior IT workers and IT security leaders believe their organizations lack sufficient defenses against cyberattacks, according to IDG.

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